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HBR: Executives Embrace Experimentation

“Experimentation” doesn’t have the consonantal strength and counterlogical imperative of “fail fast,” but it really is pretty much the same thing. Check out the Harvard Business Review article on its growing global usage.

In our recent sample of 149 senior executives in the Babson Executive Education survey of global respondents, December 2010, 51% say that experimentation is now their organization’s preferred approach to understanding and acting on potential opportunity. Interestingly, for the subset of executives leading the highest growth firms (more than 20% revenue growth last year), the percentage encouraging experimentation is 10 % higher than that (61%). The practice of experimentation is widespread, and seems to be linked to higher revenue performance as well, our data suggest.